https://www.taxtmi.com/caselaws?id=372791 The ITAT Kolkata upheld the CIT(A)'s decision to reverse the AO's action of treating the assessee's Long Term Capital Gains (LTCG) as bogus and unexplained cash credits under Section 68 of the Income Tax Act. The tribunal emphasized the importance of specific evidence, adherence to principles of natural justice, and reliance on judicial precedents, thereby dismissing the Revenue's appeal. en-us Wed, 26 Dec 2018 00:00:00 +0530 Sat, 29 Dec 2018 10:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=372791 The ITAT Kolkata upheld the CIT(A)'s decision to reverse the AO's action of treating the assessee's Long Term Capital Gains (LTCG) as bogus and unexplained cash credits under Section 68 of the Income Tax Act. The tribunal emphasized the importance of specific evidence, adherence to principles of natural justice, and reliance on judicial precedents, thereby dismissing the Revenue's appeal. Case-Laws Income Tax Wed, 26 Dec 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=372791